The richest NASCAR teams ranked based on 2020 valuations - Reports

NASCAR as a motorsport doesn't depend solely on racing but also has a business aspect to it. Teams work on their on-track performances, which help them keep up substantial backing, sustaining their financial success.

However, a few NASCAR teams have dominated the sport by being the richest in the last few years. As per Forbes' 2020 valuations, Team Penske, Richard Childress Racing, Stewart Haas Racing, Joe Gibbs Racing, and Hendrick Motorsports were the five richest teams in the sport four years ago.

Founded in 1969 by former NASCAR driver Richard Childress, the eponymous team currently competes in the Cup and Xfinity Series. One of the largest NASCAR organizations, they were worth $150 million four years ago. They currently field two full-time Cup Series drivers, Austin Dillon behind the #3 and Kyle Busch piloting the #8 Chevy Camaro.

Meanwhile, Roger Penske-owned Team Penske, which made its debut in NASCAR in 1972, had an estimated net worth of $152 million in 2020. Currently, Penske are the two-time defending champions of the Cup Series title and field Austin Cindric, Ryan Blaney, and Joey Logano in #2, #12 and #22 Ford respectively.

Another NASCAR giant, Joe Gibbs Racing, which was founded by former NFL coach Joe Gibbs in 1992, were valued at a staggering $230 million, as per the most recent Forbes' valuation list for NASCAR teams that came out four years ago.

Currently, this Toyota team has four full-time entries in NASCAR's premier division and has five Cup Series championships. Their four drivers - Denny Hamlin, Martin Truex Jr., Christopher Bell and Ty Gibbs - are in the playoffs for a sixth Cup Seris championship title.

Owned by Rick Hendrick, Hendrick Motorsports were considered the richest NASCAR organization four years ago. This Chevrolet team was founded in 1984 and competes in the NASCAR Cup and Xfinity Series. It had an estimated net worth of $315 million back in 2020.

Boasting more than 300 Cup wins and 14 Cup Series championships, HMS currently field four full-time entries in the Cup Seris, with Kyle Larson driving the #5, Chase Elliott behind the #9, William Byron driving the #24 and Alex Bowman piloting the #48 Chevy.

---

Reports suggest NASCAR's new charter agreement has increased the last-place share by $3.5 million

All but 23XI Racing and Front Row Motorsports have reportedly agreed on the newly proposed charter deal.

Moreover, Michael Jordan-led 23XI officially ssid that they weren't given a fair chance to bargain the new charter contract in response to missing out on the NASCAR-imposed deadline.

Since the announcement of the new $7.7 billion media rights deal, the teams have been in negotiations for a higher revenue share. However, as per reports, the last-place team's annual earnings have increased by $3.5 million.

"The last-place NASCAR charter in the current agreement from 2016-2024 gets about $5 million annually, while that will go up to around $8.5 million in the new version that the 13 teams signed for from 2025-2031." Adam Stern tweeted.

However, this is still speculation if it will help the owners cover all the expenses of running a NASCAR team.